McBride said the idea of multichannel retailing - where companies have both an online and physical shop - was "trying to turn a vice into a virtue" because the high street is "a very cruel and demanding place".

"I think the idea of multichannel was invented to think of something to do with all of these stores," he said.

"I don't think you'd invest in stores if you didn't have them.

"The high street does struggle to keep up with change. Your Oxford Street stores just don't know what to do anymore. We know a lot more about our customers."